Zhang Weiying: China's Anti-Keynesian Insurgent

Zhang Weiying's warnings that stimulus spending would lead to malinvestment were once ignored. Now official ministries invite the follower of Hayek to speak.

By

Abheek Bhattacharya

Oct. 12, 2012 6:47 p.m. ET

Beijing

It's a rare afternoon in the Chinese capital when smog hasn't blocked the skies, and one of China's most famous economists is in a sanguine mood. The economy is in trouble as the Communist Party heads for a once-in-a-decade transfer of power while prosecuting its former golden boy, Bo Xilai, on criminal charges. Worried investors want signs that Beijing remains committed to growth—and the sign they'd most like to see is a...